Oct. 12 Quick Takes: Merck exercises option on Moderna’s cancer vaccine
Plus Versant raising $1B for trio of funds and updates from Royalty Pharma, BeiGene, BioMarin, ARPA-H, Pleno, Vita, Regeneron and more
Shares of Moderna Inc. (NASDAQ:MRNA) climbed $10 to $130.72 Wednesday, adding $3.9 billion to the biotech’s market cap, after Merck & Co. Inc. (NYSE:MRK) exercised an option to jointly develop mRNA-4157/V940. The personalized cancer vaccine is in a Phase II study in combination with Merck’s PD-1 inhibitor Keytruda pembrolizumab to treat high-risk melanoma in an adjuvant setting. Moderna will receive $250 million up front, and the companies will share costs and profits under the terms of a 2016 deal that the partners amended in 2018.
Moderna also exercised an option Wednesday, licensing binders from Autolus Therapeutics plc (NASDAQ:AUTL) against an undisclosed immune-oncology target. Based on an August 2021 agreement, Moderna has exclusive options to license up to four immuno-oncology targets from Autolus to incorporate into mRNA therapeutics. Autolus received an option exercise fee and is eligible for development payments and royalties; details weren’t disclosed. ...